Underground Cellar Files for Liquidation Under Bankruptcy Act

The notice was posted on its website.  The company, which had offered to store up to 500 bottles for free in its "secure Napa Valley cellar" and to ship 12-bottle cases for free attributed the closure to "recent market headwinds, and an inability to secure follow-on financing or an acquisition in what has become an increasingly challenging capital market."

Here's a deal: Pay $25 for a bottle of wine and you just might get a bottle valued at $100 or more.  That was the pitch Underground Cellar made.  It also promised to store 500 bottles of wine purchased from the company for "in our secure Napa Valley cellar (your personal CloudCellar" for free, then ship your wine at any time.  "Cases (12 bottles) always ship FREE," was the offer still displayed on the company's website.

It's unclear whether customers who purchased and paid for wine, and then left it with Underground Cellar for storage will be able to recover their wine.